VOL. XXXII

NO. 25

27-MARCH-1989

Financial and Banking News

REGIONAL BANKING

Kuwait Asia Bank Shows Recovery

Kuwait Asia Bank (KAB), the Bahrain-based offshore bank which was hit bysevere losses in 1987 leading to a major management shake-up last year, hasreported profits of $6.6mn and a sharp reduction in the size of its loanportfolio as part of its strategy to transform itself from a commercial bankinto an investment bank. KAB has branches in Australia and Singapore, where thebank's prinicipal...